Solar Panel Cost Guide in Smithville Sanders, IN (2023 Update)
- Smithville Sanders Solar Installation Cost: $16,284
- 25-Year Savings: $30,938
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Smithville Sanders
We break down average solar pricing in Smithville Sanders.
The national average cost of solar panels is $2.66 per watt, but in Smithville Sanders it's 2.68 per watt. To account for the typical energy needs of the average home in Smithville Sanders, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs about $16,284, or $23,286 before the federal solar tax credit of 30% is applied.
The true price you pay can go above or below the average in Smithville Sanders based on a few factors, such as the type of solar panels you choose and the solar company you hire. For most homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Smithville Sanders see about $21,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a personalized estimate.
Solar savings over time in Smithville Sanders
| Year | Return on Investment |
|---|---|
| 1 years | $-14,395 |
| 3 years | $-10,617 |
| 5 years | $-6,839 |
| 7 years | $-3,062 |
| 9 years | $716 |
| 11 years | $4,494 |
| 13 years | $8,272 |
| 15 years | $12,049 |
| 17 years | $15,827 |
| 19 years | $19,605 |
| 21 years | $23,383 |
| 23 years | $27,160 |
| 25 years | $30,938 |
Top Solar Installers in Smithville Sanders
Many homeowners decide to hire a solar installation company since installing solar panels by yourself can be time-consuming. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you'd like to make the switch to solar but still aren't sure which solar company to go with, here are our recommendations for providers in Smithville Sanders:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Smithville Sanders
Factors that Affect Solar Panel Costs in Smithville Sanders
For many Smithville Sanders homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Smithville Sanders, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Smithville Sanders average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Smithville Sanders homeowners opt to finance their solar panel systems to offset upfront costs. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you pick will influence your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and go with the company that offers the products, warranties and services you're looking for and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.79 | $11,706 | $20,947 | 9.0 years |
| 8 kW | $2.73 | $15,308 | $28,230 | 8.8 years |
| 10 kW | $2.68 | $18,760 | $35,663 | 8.6 years |
| 12 kW | $2.63 | $22,062 | $43,245 | 8.4 years |
| 14 kW | $2.57 | $25,213 | $50,978 | 8.3 years |
| 16 kW | $2.52 | $28,215 | $58,861 | 8.1 years |
| 18 kW | $2.47 | $31,067 | $66,894 | 7.9 years |
| 20 kW | $2.41 | $33,768 | $75,077 | 7.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Smithville Sanders, IN Solar Cost FAQs
What is the average cost of installing solar panels in Smithville Sanders?
The average cost of solar panels in Smithville Sanders is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Smithville Sanders?
Solar panels aren't free in Smithville Sanders, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Smithville Sanders have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future electricity bills.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.